Colonnade Properties buys Tampa's `Beer Can'

Colonnade Properties LLC, New York, has acquired NationsBank Plaza in downtown Tampa, Fla., from Atlanta-based Lend Lease Real Estate Investments Inc., reportedly for $50 million. New York-based Cushman & Wakefield represented Lend Lease.

Located at 400 N. Ashley Drive, the 32-story tower is 82% occupied and totals 512,851 sq. ft. Known as "The Beer Can" because of its shape, the Colonnade deal ends a two-year search for a buyer for the 12-year-old building, according to local reports.